FPS Acronym

Meaning	First-person shooter
Popularity
Usage	General Online Gaming
Description	A 3D action game such as Quake, Unreal, or Call of Duty, that incorporates a first-person perspective.
Example	"Doom, Wolfenstein 3D, and Marathon were some of the first FPS games."
Updated: n/a

Meaning	Frames per second
Popularity
Usage	General
Description	Refers to how many frames a game, video, or animation can display each second; often used to measure the performance of graphics cards.
Example	"With my new NVIDIA video card, I can get over 120 FPS in Quake 4!"
Updated: n/a

http://www.chatslang.com/meaning/fps